MMDCD AWARDED $600,000 FROM TREASURY DEPARTMENT
WASHINGTON, DC – Congressman Collin C. Peterson (DFL-7th District) Wednesday announced that the Midwest Minnesota Community Development Corporation (MMDCD) has been awarded $600,000 from the U.S. Department of the Treasury Community Development Financial Institutions Fund.
The award ($300,000 capital grant and $300,000 loan) will help MMCDC expand its single family mortgage lending in Minnesota and North Dakota’s rural areas.
“Our rural areas benefit when families can buy homes there.” Peterson said. “By utilizing this award, MMCDC will help families living and working in our communities.”
MMCDC serves seven rural counties in Minnesota. It provides commercial loans, loans to training program participants for subsistence needs, investments to businesses that create jobs in certain industry sectors, and affordable housing loans to low and moderate-income families.
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